UK gilts mixed on security concerns
by Brian Turner
At mid-day on Monday in London, yields on gilts were mixed as investors looked for highly rated debt as concerns about security were in mind in the wake of last Thursday’s attempted bombings there.
News that the UK’s economic growth was the slowest in 12 years in the second quarter also was an influence as it grew more likely that the Bank of England will cut UK interest rates in August.
The 2-year gilt dropped 1.1 basis point to yield 4.093 percent, while the 10-year gilt gained 0.5 basis points to a yield of 4.297 percent.
There was little movement in eurozone government bonds, as the 2-year Schatz gained 0.5 basis points to yield 2.178 percent but the 10-year Bund dropped 0.2 basis points to yield 3.228 percent.
In an auction in Belgium, the government sold €1.4 billion in 5-year bonds and €1.6 billion in 10-year bonds.
Meanwhile in the United States, prices were up and yields down on 2-, 10-, and 30-year Treasury bonds.
The 2-year bond was yielding 3.95 percent, the 10-year bond yielded 4.25 percent, and the 30-year bond yielded 4.96 percent, down from 4.44 percent.
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